Which of the following statements are TRUE?

I. The rate of zakat varies depending on the category of wealth.

II. The rate of zakat is fixed at 2.

5% irrespective of the category of wealth.

III. Only liabilities that are due in the current year are deductible.

IV. The rate for zakat on fixed assets is 2.5%.

a. I and II

b. I and IV

c. I, II, and III

d. I, III, and IV